This report analyzes the experienceof Cambodia with the Poverty Reduction Strategy Paper (PRSP)process3. The focus of the report is on evaluating theperformance of the World Bank in supporting the PRSPinitiative, not on appraising the authoritiespolicies.Given the early stage of the PRS Process, with the documentonly formally launched by government in March 2003, thereport focuses on the process of PRSP formulation inCambodia and the genesis of the implementation phase. Thereport is structured as follows: the remainder of sectionone provides brief background information about Cambodia.Section two offers an appraisal of the PRSP formulationprocess and of the document itself, focusing on aspectsrelevant to an evaluation of the World Bank s role. Sectionthree assesses the World Bank s support to the process.Section four summarizes the main points of the assessmentand attempts to draw lessons of more general applicability.